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ACQUISITION | South African Fintech, Ukheshe, Acquires EFT Corp to Modernize and Digitize its Traditional Payment System
South African fintech company, Ukheshe, has announced the acquisition of EFT Corporation Limited (EFTCorp), obtaining full ownership from its parent company, Loita Transaction Services (LXS).
Loita Transaction Services is a pan-African provider of payment solutions and financial switching services. This strategic move by Ukheshe comes on the heels of its 2022 acquisition of MasterPass in South Africa and the successful conclusion of a funding partnership with Development Partners International (DPI) in 2023.